Overview Of The Latest SHIB Burn On Shibarium
According to Shibburn, there was a recent SHIB burn transaction on Shibarium where 8.47 billion tokens were transferred from an unknown wallet to a dead wallet. However, the burn rate was down by 1.12% compared to the previous day’s burn. This marks the fourth time Shibarium has used its gas fees to reduce the circulating supply of SHIB.
Earlier, 8.53 billion SHIB tokens were burned via Shibarium, which increased the burn rate to 161,540.53%. Similar burns were observed on December 4 and December 16, totaling a massive 33.85 billion SHIB burned in just 19 days.
Shibarium has also seen a surge in transactions, with daily transactions reaching 7 million and total transactions amounting to 168.48 million.
Shiba Inu Price Gain
The current price of SHIB is $0.0000107, showing a gain of 2.64% on December 23. The market capitalization of Shiba Inu has increased by 2.65% to $6.3 billion, and the 24-hour trade volume has spiked by 30.42% to $254.55 million.
In the past seven days, SHIB has gained nearly 9% in value, driven by volatile sessions and the recent SHIB burns on Shibarium.
Hot Take: Shiba Inu’s Price Rally Expected to Continue
The recent SHIB burns on Shibarium have contributed to Shiba Inu’s price rally. With billions of tokens being burned and a surge in transactions on Shibarium, investors are optimistic about the future price movements of SHIB. As the burn rate increases and the circulating supply decreases, it is likely that the Shiba Inu price will continue to rise. Keep an eye on the developments on Shibarium and the overall market sentiment to make informed decisions about your SHIB investments.
By
By
By
By